Annual inflation in Russia slowed to 8.8% by the end of July, down from 10.3% in March, and could drop to as low as 6–7% by the end of the year — below earlier forecasts, President Vladimir Putin said at a meeting on economic issues.
“An important achievement is the reduction in inflation,” Putin noted. “If in March it stood at 10.3% year-on-year, by the end of June it was already 9.4%, and by the end of July, 8.8%. By year-end, consumer price growth could fall to within 6–7%, which would be below previous projections.”
The president recalled that in 2025 the government and the Central Bank were tasked with ensuring a balanced trajectory for economic development. “This means reducing inflation while at the same time keeping unemployment consistently low,” he explained.
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Photo: official website of the President of the Russian Federation
Based on materials from TASS